Mumbai-based pharmaceutical giant Sun Pharmaceutical Industries Ltd has reported a total net profit of ₹2,654 crore in the January-March quarter, up 27.8% against ₹1,984.5 crore during Q4 FY23.

Sun Pharma’s gross sales for the fourth quarter came in at ₹11,813.3 crore, a growth of 10.1% on a year-on-year basis, with India formulation sales up 10% at ₹3,707.8 crore.

In Q4 FY24, Sun Pharma’s US formulation sales also surged 10.9% to $476 million. Among other regions, Sun’s specialty sales grew 11.1% globally, 10.8% in emerging markets, and 2.5% in the rest of the world. In Q4 FY24, Sun’s R&D investments at ₹900 crore were up against ₹665.7 crore for Q4 FY23.

EBITDA at ₹3,035.2 crore grew 8.3%, while EBITDA margin for Q4 at 25.3% vs 25.6% during Q4FY23, the company says in an exchange filing.

For the full fiscal year FY24, Sun’s gross sales were at ₹47,758.5 crore, a growth of 10.4%. India formulation sales stood ₹14,889.3 crore, up 9.5%, while the US formulation sales at $1,854 million up 10.1%. The global specialty sales at $1,039 million were up 19.3%.

For FY24, the company's R&D investment stood at ₹3,177.6 crore compared to ₹2,367.6 crore for FY23. EBITDA came in at ₹13,023.1 crore, up 11.8%, with a full year EBITDA margin of 26.9%. The company’s reported FY24 profit was ₹9,576.4 crore.

Sun’s board has proposed a final dividend of ₹5 per share for the year FY24. This is in addition to the interim dividend of ₹8.5 per share paid in FY24, taking the total dividend for FY24 to ₹13.5 per share compared to ₹11.5 per share for FY23.

The Board of Directors also approved the appointment of Dilip Shanghvi, MD of the company, as the chairman of the board with immediate effect.

“During FY24, two of our businesses surpassed $1 billion in annual sales, namely global specialty and emerging markets. This achievement of critical mass in key markets is a testimony to several years of hard work put in by respective teams. We shall continue to build our specialty portfolio and invest further to gain scale across our businesses,” Shanghvi says.

Despite positive quarterly results, Sun Pharma's stock closed negative (-0.06%) today after gap up opening at ₹1,549.60 on the BSE. At the current share price, the company's m-cap stands at ₹3.69 lakh crore. The Sun Pharma stock has risen 24.10% in the calendar year so far, with the past one-year return at 67.88%.

Follow us on Facebook, X, YouTube, Instagram and WhatsApp to never miss an update from Fortune India. To buy a copy, visit Amazon.